Image of Tauranga for blog about Bay of Plenty Top Of ASB regional economic report

Bay of Plenty Takes Top Spot

Image of Tauranga for blog about Bay of Plenty Top Of ASB regional economic report

More good news for the Bay of Plenty region this week with ASB’s economic report showing we are now New Zealand’s best-performing region! This is the first time the Bay of Plenty has been at the top of the regional economic scoreboard, knocking Auckland off the mantle.  Here is the scoreboard for the regions:

ASB/Main Report Regional Economic Scoreboard (Q3, 2015):

  1. Bay of Plenty
  2. = Auckland
  3. = Northland
  4. Waikato
  5. Canterbury
  6. = Hawke’s Bay
  7. = Otago
  8. Southland
  9. = Tasman
  10. = Nelson
  11. Manawatu-Wanganui
  12. Gisborne
  13. Marlborough
  14. West Coast
  15. = Taranaki
  16. = Wellington

Over the last 12 months we have shared many articles about a surge in business confidence, a huge increase in employment in the region and a housing market boom for Tauranga and the surrounding areas.  All these factors have played a part in getting us to the top spot on the rankings.

Along with the economic boom we have seen a large increase in Aucklanders and Hamiltonians arriving in the region.  They have come for the jobs and the lifestyle that our stunning region has to offer. With current mortgage rates at record lows and further drops expected we can only expect more people to find their way to our sunny shores.

What does this mean for property investors? If you’re not already in the market then now is the time to jump onboard the property investing boom!  At Connect Realty we have all the latest real estate market figures for the Bay of Plenty.  Combined with our extensive experience as property managers in the Tauranga, Mt Maunganui and Papamoa areas we can help you make the right investment in housing and find you quality long term tenants to keep your investment protected.

Call Chris today to discuss your next property investment, or if you have a property you would like managed then our team are happy to help.

Visit our website www.connectrealty.co.nz or call 0800 333 221 today.

For more information about the ASB regional report follow this link – https://reports.asb.co.nz/report/article/21774/18/0/bay-of-plenty-top-of-the-pops.html

Blog image for Tauranga Property investment- Long Term tenants Vs Short term holiday renters

Tauranga Property Investment: Long Term Tenants Vs Short Term Holiday Renters

Blog image for Tauranga Property investment- Long Term tenants Vs Short term holiday renters

With summer arriving many investment property owners are weighing up the option of whether to rent their house to short term summer holiday makers or to long-term tenants.

While there are often quick gains to be made from short term holiday rentals there are also issues associated with this type of renting. For example the following are just some of the hidden problems with short term holiday rentals:

  • Cancellations are quite common, if short notice this can leave you with unoccupied days/weeks and out of pocket.
  • Damage to property. Short term holiday makers are less likely to care for your house and property. Whereas longer-term tenants have to sign tenancy agreements which legally protect you as a landlord.
  • Lack of control on numbers.  In the last few years there have been many reported cases of occupancy numbers in a holiday rental being greater than what was allowed/booked. Unfortunately this can go unchecked, and can result in greater wear and tear on your property.
  • Many online booking sites have ratings and reviews, which can sometimes be difficult for owners if a holiday guest is not happy about their stay.

On the other hand a long term rental requires more commitment from a tenant and stability for a property owner.  Advantages include:

  • Landlords know exactly how much rental income they will be receiving every week.
  • Tenants have to sign tenancy agreements which helps protect landlords rights.
  • A notice period is set so landlords are given plenty of time to organise new tenants should existing tenants wish to leave.
  • Long term tenants are less likely to damage property, and if they do landlords have bonds and/or landlord insurance as cover.

Also, given the current demand for rentals in the Tauranga region, property owners are able to rent their house for a premium to long term tenants.  These tenants are desperate for houses in the areas of Papamoa and Mt Maunganui, and anywhere near good schools.

In addition to the above advantages, landlords can also use the services of a property manager when they choose long term tenants for their property.  Our property management service includes a free market appraisal, REAL Landlord Insurance, set fees, up to the minute reporting and more.

So if you are looking at renting out your Tauranga investment property call Connect Realty today. We care about your investment and want to help you every step of the way.